Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $480,000 Actual manufacturing overhead: $440,000 Eudgeted machine hours: 20,000 Actual machine hours: 16.000 Overhead applied to production totaled: $352.000 $384,000 $550.000 $600,000 None of these choices are correct